China National Offshore Oil Corp (CNOOC) aims to have a record number of projects under construction from 2012 to 2014, a company executive said at the International Petroleum Summit Monday.
CNOOC has 20 upstream projects planned for the period, including six to be put into operation this year, and 40 downstream projects, including 10 to be put into use this year, said Jin Xiaojian, general manager of CNOOC's Engineering and Construction Department.
CNOOC also plans to increase oil and gas production by 4 million to 5 million cubic meters this year, which will be helped by the use of deep water drilling equipment.
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